Tesla does better than expected in the third quarter thanks to lower production costs

Tesla does better than expected in the third quarter thanks to lower production costs

2024-10-23 20:54:00

The American manufacturer Tesla, a specialist in electric means of transport, did better than expected in terms of profits in the third quarter, highlighting a cost price per vehicle at a historic low. Net profit thus came to 2.18 billion dollars (+17% over one year) and, reported per share and on a comparable basis – a benchmark for the markets – it stood at 72 cents (+9%), a announced Wednesday the company led by billionaire Elon Musk.

The FactSet analyst consensus was expecting 2.01 billion and 60 cents respectively. These figures caused Tesla shares to jump 7.45% in electronic trading after the New York Stock Exchange closed. On the other hand, the turnover did not reach analysts’ predictions (25.47 billion) by placing itself at 25.18 billion dollars (+8%).

“Attractive” options

The group justified this by a lower average selling price per vehicle (excluding exchange rate effects), due to promotions and options. “attractive” financing. He announced at the beginning of October that global deliveries – Tesla does not communicate its sales by geographic region – were in line with expectations in the third quarter with 462,890 vehicles delivered to their owners. Over the same period, it manufactured 469,796 vehicles. “Despite current macroeconomic conditions, we expect slight growth in deliveries in 2024”Tesla said on Wednesday.

The manufacturer, which is aiming for 1.8 million sold over the year, welcomed the production on Tuesday of its seven millionth vehicle since its creation. He confirmed that he is in the process of developing new models, including cheaper ones, with a start of production maintained in the first half of 2025. The low-cost vehicle – around $25,000 to $30,000 – is eagerly awaited by the markets.

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